2022-04-05-accounts - The Buffini Chao Foundation

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		Page	Page
Report ofthe Trustees		1	to	3
Report ofthe Independent	Auditors	4	to	6
Statement ofFinancial Activities
Balance Sheet
Cash Flow Statement
Notes to the Financial Statements		10	to	19

		for	the Year	Ended 5April 2	022
						5.4.22	5.4.21
				Unrestricted	Endowment	Total	Total
				fund	fund	funds	funds
			Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies					2,500,000	2,500,000	2,369,578
Investment income				198,987		198,987	101,228
Other income				9,S41		9,841
Total				208,828	2,500,000	2,708,828	2,470,806
EXPENDITURE	ON
Raising funds					22,889	22,889	11,384
Charitable activities
General charitable	activities			774,044		774,044	623,638
Total				774,044	22,889	796,933	635,022
Net gains on investments					316,076	316,076	1,570,904
NET INCOME/(EXPENDITURE)				(565416)	2,793,187	2427,971	3,406,688
Transfers between	funds		13	565416	(565416)
Net movement in	funds				2,227,971	2427,971	3,406,688
RECONCILIATION		OF FUNDS
Total funds brought forward					10,835,774	10,835,774	7,429,086
TOTAL FUNDS	CARRIED FORWARD				13,063,745	13,063,745	10,835,774

	The Buffini Chao Foundation	The Buffini Chao Foundation
	Balance Sheet
	5	April 2022
				5.442	5.4,21
		Unrestricted	Endowment	Total	Total
		fund	fund	funds	funds
	Notes
FIXEDASSETS Investments			12)575,615	12,575,615	10,076,057
CURRENT ASSETS Cash at bank		8,617	489,330	497,947	771,423
CREDITORS Amounts falling due within one year	12	(8,617)	(1)200)	(9)817)	(11,706)
NET CURRENT ASSETS			4881130	488,130	759,717
TOTAL ASSETS LESSCURRENT LIABILITIES			13,063,745	13,063,745	10,835,774
NET ASSETS			13,063,745	13,063,745	10,835,774
FUNDS Endowment funds	13			13,063,745	10,835,774
TOTAL FUNDS				13,063,745	10,835,774

		for the Year Ende	d 5April 2022
			5.4.22	5.4.21
		Notes
Cash flows from operating activities Cash generated from operations		15	(766,092)	(612,815)
Net cash used in operating activities			(766,092)	(612,815)
Cash flows from investing activities Purchase offixed asset investments Sale offixed asset investments Interest received Dividends received			(15,972,065) 13,788,583 129 198,858	(3,075,386 ) 1,229,522 731 100,497
Net cash used in investing activities			(1,984,495)	(1,744,636 )
Cash flows from financing activities Income attributable to endowment Expenditure attributable to endowment			2,500,000 (22,889)	2,369,578 (23,890)
Net cash provided by financing activities			2,477,111	2,345,688
Change in cash and cash equivalents the reporting period	in		(273,476)	(11,763)
Cash and cash equivalents at the beginning ofthe reporting period			771,423	783,186
Cash and cash equivalents at the end the reporting period	of		497,947	771,423

DONATIONS AND LEGACIES		5.4.22	5.4.21
Gifts Gift aid		2,000,000 500,000	2,130,228 239,350
		2,500,000	2,369,578
INVESTMENT INCOME
Investment income comprises:		5.4.22	5.4.21
Interest received on UK investments UK Dividends UK Rental income Interest received on overseas investments Overseas Dividends		3,946 165,475 9,552 20,014	2,249 82,860 401 4,482 11,236
		198,987	101,228
RAISING FUNDS
INVESTMENT MANAGEMENT	COSTS	5.4.22	5.4.21
Portfolio management		22,889	11,384

CHARITABLE ACTIVI	TIES C	OSTS
			Grant
			funding of
			activities	Support
			(see note	costs (see
			6)	note 7)	Totals
General charitable activities			683400	90,744	774,044
GRANTS PAYABLE
				5.4.22	5.4.21
General charitable activities				683,300	567,310
The total grants paid to institutions		during the year was as follows:		5.4.22	5.4.21
Build Atrica/Streetchild				20,000	16,200
Eastside Young Leaders Academy National Deaf Children's Society				2,400 15,000	7,500 15,000
Community Foundation for Surrey First Give				22,120	30,000 31,600
Wave Project Music Masters				13,125 8,000	20,000 8,000
Soil Association					20,000
Kent Academies Network				13/65
Primary Robbins Envision				21,510 10,000	21,510 10,000
Royal National Theatre - RHS Garden Wisley English National Ballet Springboard Foundation Royal Ballet School Schoolreaders	NT Connections			250,000 24,000 30,000 20,000 5,000	250,000 22,000 34,000 30,000 20,000 5,000
Chance to Shine				14,000	14,000
Seaview				12,500	12,500
Into University Rugby Football Foundation Sporting Way Victoria and Albert Museum				40,000 11,000 4,100 125,000
Young Minds London Children's Ballet				10,000 11,000
Small grants $1,000 and	less - 3(2021:Nil)			1/80
				683,300	567,310

SUPPORT C	OST	S
						Governance
				Management	Finance	costs	Totals
General charitable		activities		80/78	116	10@50	90,744
Support costs,	included		in the above,	are as follows:
MANAGEMENT						5.4.22	5.4.21
						General
						charitable	Total
						activities	activities
Wages Social security Pensions Website costs Postage and stationery Travel and subsistence						72,592 5,001 1,065 431 986 203	33,000 990 402 693
						80/78	35,085
FINANCE						5.4.22	5.4.21
						General
						charitable	Total
						activities	activities
Bank charges Exchange losses						116	107 12,936
						116	13,043
GOVERNANCE		COSTS				5.4.22	5.4.21
						General
						charitable	Total
						activities	actlv&ties
Auditors' remuneration						5,400	5,400
Professional	fees					4,950	2,800
						10,350	8/00

STAFFCOSTS
				5.4.22	5.4.21
Wages and salaries Social security costs Other pension costs				72,592 5,001 1,065	33,000 990
				78,658	33,990
The average monthly number ofemployees		during the year was	as follows:
				5.4.22	5.4.21
Administration				2	1
No employees received emoluments	in excess off60,000.
COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted				Endowment	Total
			fund	fund	funds
INCOME AND ENDOWMENTS Donations and legacies	FROM			2,369,578	2,369,578
Investment income			101,228		101,228
Total			101,228	2,369,578	2,470,806
EXPENDITURE ON Raising funds				11,384	11,384
Charitable activities General charitable activities			611,132	12,506	623,638
Total			611,132	23,890	635,022
Net gains on investments				1,570,904	1,570,904
NKT INCOME/(EXPENDITURE)			(509,904)	3,916,592	3,406,688
Transfers between funds			509,904	(509,904)
Net movement in funds				3,406,688	3,406,688

	Notes to the Financial Statements -continued for the Year Ended 5April 2022	Notes to the Financial Statements -continued for the Year Ended 5April 2022	Notes to the Financial Statements -continued for the Year Ended 5April 2022
10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued
		Unrestricted	Endowment	Total
		fund	fund	funds
	RECONCILIATION	OF FUNDS
	Total funds brought forward		7,429,086	7,429,086
	TOTAL FUNDS CARRIED FORWARD		10,835,774	10,835,774
11.	FIXEDASSET INVESTMENTS
				Listed
				investments
	MARUT VALUE
	At 6April 2021 Additions			10,076,057 15,972,065
	Disposals Revaluations			(11,862,951) (994,773)
	At 5 April 2022			13,190/98
	PROVISIONS
	Provision for year			614,783
	NET BOOKVALUE
	At 5 April 2022			12,575,615
	At 5 April 2021			10,076,057
	Investments at market	value comprise:-	5.4.22	5.4.21
	Equities Bonds			1,912,981 349,980
	Hedge Funds Managed Property Funds Commodities			128,681 70,400 82,890
	Multiple Asset Class		12,575,615	7,531,125
			12,575,615	10,076,057

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE	YEAR
					5.4.22	5.4.21
	Other creditors				1,117	3,006
	Accrued expenses				8,700	8,700
					9,817	11,706
13.	MOVEMENT IN FUNDS
				Net	Transfers
				movement	between	At
			At 6.4.21	in funds	funds	5.4.22
	Unrestricted	funds
	General fund			(565,216)	565/16
	Endowment	funds
	Expendable	endowment
			10,835,774	2,793,187	(565,216)	13,063,745
	TOTALFUNDS		10,835,774	2,227,971		13,063,745
	Net movement in funds, included		in the above are as follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
					f
	Unrestricted	funds
	General fund		208,828	(774,044)		(565416)
	Endowment	funds
	Expendable	endowment
			2,500,000	(22,889)	316,076	2,793,187
	TOTALFUNDS		2,708,828	(796,933)	316,076	2427,971

					Net	Transfers
					movement	between	At
				At 6.4.20	in funds	funds	5.4.21
Unrestricted	funds
General fund					(509,904)	509,904
Endowment	funds
Expendable	endowment
				7,429,086	3,916,592	(509,904)	10,835,774
TOTAL FUNDS				7,429,086	3,406,688		10,835,774
Comparative	net movement	in funds, included	in the above are		as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
Unrestricted	funds
General fund				101,228	(611,132)		(509,904)
Endowment	funds
Expendable	endowment
				2,369,578	(23,890)	1,570,904	3,916,592
TOTAL FUNDS				2,470,806	(635,022)	1,570,904	3,406,688
A current year 12months		and prior year 12months		combined	position is as follows:
					Net	Transfers
					movement	between	At
				At 6.4.20 in funds		funds	5.4.22
Unrestricted	funds
General fund					(1,075,120)	1,075,120
Endowment	funds
Expendable	endowment
				7,429,086	6,709,779	(1,075,120)	13,063,745
TOTALFUNDS				7,429,086	5,634,659		13,063,745

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted	funds
General fund		310,056	(1,385,176)		(1,075,120)
Endowment	funds
Expendable	endowment
		4,869,578	(46,779)	1,886,980	6,709,779
TOTAL FUNDS		5,179,634	(1,431,955 )	1,886,980	5,634,659

RECONCILIATION	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM	OF NET INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
				5.4.22	5.4.21
Net income for the	reporting		period (as per the Statement ofFinancial
Activities)				2,227,971	3,406,688
Adjustments for:
Gain on investments				(316,076)	(1,570,904 )
Interest received				(129)	(731)
Dividends received				(198,858)	(100,497)
Income attributable	to	endowment		(2,500,000)	(2,369,578 )
Expenditure attributable		to endowment		22,889	23,890
Decrease in creditors				(1,889)	(1,683)
Net cash used in operations				(766,092)	(612,815)

ANALYSIS OF CHANGES IN NET F	UNDS
	At 6.4.21	Cash flow	At 5.4.22
Net cash
Cash at bank	771,423	(273,476)	497,947
	771,423	(273,476)	497,947
Total	771,423	(273,476)	497,947